Savings Life Motivation It is undeniable that financial circumstances have a big role in life. We must be smart in managing finances in order to meet all needs. frugal life be one way to achieve this. The motivation to live frugally needs to be owned by everyone, so it is important to instill the motivation to live frugally in children from an early age.
Not only that, by having the motivation to live frugally there will be many benefits that come to us. It will also lead to good habits, for example being a responsible, disciplined, and critical person. What are you waiting for? Come on, let's start building the motivation to live frugally into our daily lives!
Also Read: How to Save Your Pocket Money: Here Are the 7 Tips!
8 Motivation to Save Life
Sometimes, we find it difficult to have the motivation to live frugally because we are complacent with material goods. Here are 8 motivations for frugal living a la Whiz so that the quality of life is maintained!
Financial Stability in Old Age
In old age that is no longer productive, we have limitations in being able to work and make money. By living frugally, we can have retirement savings so we don't have to worry about financial problems in old age. Life will be relaxed and fun!
Have an Emergency Fund
No one knows what will happen in the future. Bad things can happen to us or close relatives. When that happens, we must have a reserve of money to survive even the worst of situations. Living frugally can make us set aside some money to form an emergency fund. These funds will be very helpful when unexpected events occur.
Buying Dream Items
Have a dream car? Dream gadgets? Or want to have your own house? Dream things can be bought if we live frugally! Start setting aside the money we have to save and determine the desired item. It does take patience and determination to resist the urge to buy, but imagine the happiness you will get when the dream item is successfully purchased!
Visiting a Dream Place
Vacation alone or with loved ones is a joy for most people. However, vacations cost a lot of money, accommodation, meals, souvenirs, etc., are things that must be taken into account. For that, we need to practice a frugal lifestyle so that we can save money to visit the dream place!
Owning Other Assets
In this era we have various investment options to allocate and multiply our money. We can have assets in various forms, ranging from gold, stocks, property, crypto, to NFT.
These assets have more or less the same goal, which is to become an investment tool for our finances. If we have a frugal lifestyle, we can allocate money into these assets. It is very good for long term investment.
Leaving a Legacy
As parents, we definitely want to give the best for our children and families. We often worry about our children's lives after we are gone. Living frugally can add to our heritage as provisions for our children and grandchildren. Therefore, inheritance can be a solution to ensure prosperity
Giving Gifts
Sometimes we want to give gifts to those closest to us as a form of appreciation. The prizes given also varied, ranging from small gifts such as dolls, food, to large gifts such as jewelry, houses, and the latest gadgets.
The price of the gift that is not cheap is sometimes a problem. For that, frugal living can be a solution to overcome these problems. By being frugal, we can use the money we save to give gifts to loved ones.
Insurance
One of the wise decisions in managing finances is to take quality insurance for the family. Whether it's health insurance, accident, or life insurance.
This insurance is very important because it can be safety net when we need big expenses when sick or in an accident. By living frugally, we can allocate money to quality insurance. That way, there is no worry if at any time it requires large costs for treatment.
Those are some motivations to live frugally. Use the Whiz finance app to monitor your finances and start living frugally!
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